Preheat oven to 325 degrees F.
Cream the butter and sugar in a large mixing bowl.
Beat in eggs one at a time, mixing well between each addition.
Add spirits or fruit juice and bitters, if using.
In a medium bowl, mix the flour, baking powder, salt, and spices. Add them to creamed mixture until combined.
Mix in dried fruits and orange peel.
Butter 4 mini loaf pans. Divide the batter evenly between the pans and smooth the tops. Bake at 325 degrees F for about an hour, until a toothpick inserted in the center comes out clean.
Cool in pans for 10 minutes, then remove to a wire rack to cool completely.
To Age: If you are not planning to serve the cakes right away, turn them upside down and slowly pour an ounce of spirits or apple cider over each cake. Wrap each in cheesecloth, and again in aluminum foil. Label and store in the refrigerator or a cool cellar for several weeks.
Before serving, make a thin glaze of confectioner's sugar and milk. Drizzle over the tops of cakes, and decorate with candied cherries or pecan halves if desired.